ARIFA assists Citibank to open Panama's capital markets to U.S. investors
Arias, Fábrega & Fábrega acted as counsel to Citibank N.A. Panama Branch, reviewing a custody agreement under which Citibank would provide the necessary custody/ deposit platform to allow US investors to acquire, sell and negotiate locally debt securities issued by the Republic of Panama, in Panama, and other locally registered securities. Panama lacks this necessary platform for US investors.
ARIFA also negotiated for Citibank the service agreement with Panama's Ministry of Economy and Finance.
This deal will help enhance the depth of Panama's capital market by attraction additional investors. In this way, Panama is addressing recommendations made by international financial institutions to raise Panama’s long-term debt ratings.